The ACP and GUPC have defined a final preliminary agreement for the completion of the works of widening of the channel of Panama hat



The Autoridad of the Canal de Panama City (the ACP) has communicated that the negotiations with the Grupo Unidos have been concluded yesterday with the attainment of a final preliminary agreement por el Canal (GUPC), the which charged consortium to execute the work of widening of the channel of Panama hat, concerning mainly on the acknowledgment of additional costs for the execution of the project ( on 6 February 2014).

The Panamanian authority has specified that the understanding is subject to the presentation of documentation let alone to the review and the signature of the parts and has emphasized that the agreement re-enters in the terms of the contract stipulated between the ACP and GUPC, than "does not preview some type of payment for claims" and that the claims introduced GUPC must be estimated on the base "of the mechanisms of contractual resolution". The moreover ACP has evidenced that "the price of contract (3,118, 9 million dollars, ndr) remains unchanged, is that is not modified by this agreement".

Also the international consortium, that it is constituted by the companies Sacyr Vallehermoso, Salt Impregilo, Jan de Nul and Urban Construction (CUSA), has confirmed that "the agreement re-enters in the within of the contract and the enforced laws, as evidenced from GUPC in the course of the negotiations" and has specified that "the understanding answers to the GUPC objective offering a global approach on the distribution of deep for the project through an agreement of co-financing in order facilitating the realization of the works waiting for the outcome of the arbitrateed one that will define the last responsibility about the additional costs that regard the project". Also GUPC has confirmed that the signature of the agreement "is previewed shortly".

The final preliminary agreement previews so that the construction of the third series of locks is finished in December 2015, as specified in the contract in existence between the parts. Moreover the 12 doors of the locks realized in Italy will have to be transported to Panama hat within the next December. The understanding previews that the Performance moreover Bond of the value of 400 million dollars in order to obtain a financing to the aim to complete the work can be cleared solo from the Zurich insurance company, guarantor of the project, and that it is GUPC that the ACP invest each 100 million dollars in order to allow the development of the normal rhythm of the work during freedom of expression. At last the agreement previews that the moratorium on the prepayments will be postponed until 2018 on condition of the satisfaction of binding conditions.

"We have reached - the administrator of the Autoridad of the Canal de Panama City has explained, Jorge Luis Quijano - a preliminary agreement that protects the interests of the channel of Panama hat within the terms of the contract and respecting our position". "The third closed series of - it has concluded it exult Quijano - will second be completed the terms of the contract, so as expected from the first day".